The Republic of Benin, represented by the Minister of Economy and Finance Romuald Wadagni, signed on Monday February 24, 2020, a framework agreement with Bpifrance Financement, thus becoming the first country to adopt such an agreement with the public bank of French investment. The Convention aims to facilitate the establishment of bilateral financing between the Republic of Benin and Bpifrance, by defining the legal framework in which future credit contracts will fit. This agreement will also make it possible to strengthen cooperation links with French companies, with the possibility of quickly setting up financing solutions adapted to each project, along with favorable financial conditions.
The conclusion of this framework agreement gave rise to the signing of a first credit agreement for an amount of 20.6 million euros or 13.5 billion FCFA. The funds raised will allow the financing of public lighting equipment provided by the French company Fonroche Lighting. The operation aims to install 15,000 photovoltaic street lights for public street lighting in 9 towns, including Porto-Novo, Cotonou, Abomey-Calavi and Sèmè-Pdoji, as part of the Asphalting project.
This transaction once again demonstrates Benin’s ability to structure innovative financing with the aim of optimizing its borrowing conditions and forging long-term partnerships with strategic entities.

Cotonou, February 26, 2020